FY2017 EPS Estimates for Novartis AG Increased by Analyst (NVS)
Novartis AG (NYSE:NVS) – Stock analysts at Leerink Swann raised their FY2017 earnings per share (EPS) estimates for Novartis AG in a report released on Tuesday. Leerink Swann analyst S. Fernandez now expects that the company will earn $4.81 per share for the year, up from their previous estimate of $4.80. Leerink Swann has a “Market Perform” rating and a $91.00 price objective on the stock. Leerink Swann also issued estimates for Novartis AG’s Q4 2017 earnings at $1.17 EPS and FY2018 earnings at $5.25 EPS.
Novartis AG (NYSE:NVS) last released its earnings results on Tuesday, October 24th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.04. Novartis AG had a return on equity of 15.51% and a net margin of 13.52%. The firm had revenue of $12.41 billion for the quarter, compared to analyst estimates of $12.21 billion. During the same quarter in the prior year, the firm posted $1.23 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. TRADEMARK VIOLATION WARNING: This story was posted by American Banking News and is owned by of American Banking News. If you are reading this story on another publication, it was copied illegally and reposted in violation of US and international copyright legislation. The legal version of this story can be read at https://www.americanbankingnews.com/2017/10/26/fy2017-eps-estimates-for-novartis-ag-increased-by-analyst-nvs.html.
Several other equities research analysts have also commented on NVS. Barclays PLC lowered Novartis AG from an “equal weight” rating to an “underweight” rating in a research report on Wednesday. J P Morgan Chase & Co restated a “neutral” rating on shares of Novartis AG in a research report on Tuesday. Zacks Investment Research lowered Novartis AG from a “buy” rating to a “hold” rating in a research report on Friday, October 6th. BidaskClub upgraded Novartis AG from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Finally, Cowen and Company set a $90.00 target price on Novartis AG and gave the company a “hold” rating in a research report on Wednesday, August 9th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. Novartis AG has an average rating of “Hold” and a consensus target price of $85.28.
Novartis AG (NVS) opened at 81.37 on Thursday. Novartis AG has a 1-year low of $66.93 and a 1-year high of $86.90. The firm has a market cap of $190.64 billion, a price-to-earnings ratio of 29.71 and a beta of 0.73. The firm has a 50-day moving average price of $85.52 and a 200 day moving average price of $82.47.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Westwood Holdings Group Inc. grew its holdings in Novartis AG by 5.6% during the first quarter. Westwood Holdings Group Inc. now owns 5,405 shares of the company’s stock valued at $401,000 after purchasing an additional 285 shares during the period. Cetera Investment Advisers bought a new position in Novartis AG during the second quarter valued at $241,000. GFS Advisors LLC grew its holdings in Novartis AG by 6.5% during the second quarter. GFS Advisors LLC now owns 21,314 shares of the company’s stock valued at $1,779,000 after purchasing an additional 1,300 shares during the period. Schafer Cullen Capital Management Inc. grew its holdings in Novartis AG by 9.2% during the second quarter. Schafer Cullen Capital Management Inc. now owns 2,780,606 shares of the company’s stock valued at $232,097,000 after purchasing an additional 233,292 shares during the period. Finally, Union Bankshares Corp grew its holdings in Novartis AG by 0.3% during the second quarter. Union Bankshares Corp now owns 37,521 shares of the company’s stock valued at $3,132,000 after purchasing an additional 99 shares during the period. 10.94% of the stock is owned by institutional investors and hedge funds.
About Novartis AG
Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company’s segments include Innovative Medicines, Sandoz, Alcon and Corporate activities.
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